Natural gas prices went into the minus column at one trading hub

Just how much have natural gas prices fallen?

According to a weekly update from the U.S. Energy Information Administration, the price at the Waha Hub in West Texas dropped 22 cents this week. It fell from 43 cents MMBtu last Wednesday to 21 cents per MMBtu as of Wednesday of this week.

The Waha Hub is located near the Permian Basin production activities and prices there fell to an intraweek low of minus-55 cents per MMBtu on Tuesday. It occurred as the El Paso Natural Gas Company increased masintenance activities on its North Mainlinle pipeline and Dutch F station. They carry natural gas westbound into California.

The EIA reported the Waha Hub traded $1.45 below the Henry Hub price on Wednesday compared with last Wednesday when it traded $1.20 below the Henry Hub price. The Waha price on Wednesday was $1.16 below the March 2023 average price.

The post Natural gas prices went into the minus column at one trading hub first appeared on Oklahoma Energy Today.